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Finance Minister Nirmala Sitharaman meets heads of PSBs, asks banks to undertake special drive to garner deposits

Finance Minister Nirmala Sitharaman meets heads of PSBs, asks banks to undertake special drive to garner deposits

Mon, Aug 19, 2024

The minister also urged the PSBs to explore collaboration to leverage their respective strengths by sharing best practices in emerging areas and equip themselves to keep pace with changes in the banking sector.

Byju's knocks at NCLAT door against NCLT's insolvency order; seeks urgent hearing

Byju's knocks at NCLAT door against NCLT's insolvency order; seeks urgent hearing

Thu, Jul 18, 2024

Byju's did not comment on the issue.According to sources, Byju's on Thursday moved the appellate tribunal, NCLAT, contesting the recent order of NCLT's Bengaluru bench that had admitted the cricket board's plea to start insolvency proceedings against the parent company Think and Learn, after the edtech firm failed to pay Rs 158.9 crore dues.

NCLT accepts BCCI insolvency plea against Byju's, ed-tech firm to challenge decision

NCLT accepts BCCI insolvency plea against Byju's, ed-tech firm to challenge decision

Tue, Jul 16, 2024

According to sources close to the development, the company is planning to challenge the NCLT order in the National Company Law Appellate Tribunal (NCLAT).

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Claims worth Rs 3.13 lakh cr under insolvency proceedings

Claims worth Rs 3.13 lakh cr under insolvency proceedings

Mon, Jan 29, 2018

In June last year, the Reserve Bank had identified 12 accounts, each having more than Rs 5,000 crore of outstanding loans accounting for 25 per cent of total NPAs or bad loans of banks, for immediate referral for resolution under the bankruptcy law.

Looking at new growth opportunities in Indian economy: ICICI

Looking at new growth opportunities in Indian economy: ICICI

Wed, Jan 24, 2018

ICICI Bank is looking at new areas of growth opportunities in the Indian economy as new areas are coming up to be tapped post demonetisation and introduction of GST, its chief Chanda Kochhar has said.

Banks may sell stressed loan accounts to ARCs in absence of bidders

Banks may sell stressed loan accounts to ARCs in absence of bidders

Tue, Jan 09, 2018

As many as 28 stressed loan accounts may be sold to asset reconstruction companies (ARCs) by banks in the absence of suitable bidders. These accounts were asked to resolve or send to bankruptcy courts for launch of insolvency proceedings by the central bank.

NPA issue: Can IBC help govt, RBI to deal with the problem?

NPA issue: Can IBC help govt, RBI to deal with the problem?

Fri, Dec 22, 2017

RBI is also identifying wilful defaulters for IBC resolution under the National Company Law Tribunal (NCLT). So far, it has identified 40 wilful defaulters of banks in two lists.

BSE to file case against defaulting listed companies under IBC

BSE to file case against defaulting listed companies under IBC

Tue, Dec 12, 2017

The BSE is stated to have already filed proceedings against the seven defaulting companies before the NCLT on account of their failure to pay annual listing fees over a period of time.

NCLT order disturbing, should have taken our leave, says SC in Unitech case

NCLT order disturbing, should have taken our leave, says SC in Unitech case

Tue, Dec 12, 2017

Government approached the NCLT to take over the Unitech management in a move to protect the interests of nearly 20,000 home buyers, and 51,000 depositors to whom the company owes Rs 723 crore.

SC to hear tomorrow appeal of Unitech against NCLT order

SC to hear tomorrow appeal of Unitech against NCLT order

Mon, Dec 11, 2017

The NCLT has recently invoked the provisions of the Companies Act and allowed the central government to take over the Unitech Limited and appoint its nominee directors in the Board of the firm.

NCLT suspends Unitech directors, allows govt to appoint 10 nominees

NCLT suspends Unitech directors, allows govt to appoint 10 nominees

Fri, Dec 08, 2017

In a rare move, the government approached the NCLT to take over the management with a view to protecting the interest of nearly 20,000 home buyers. The government's intervention in this case comes almost a decade after it had taken over the board of IT firm Satyam (now Tech Mahindra) and sold it to Mahindras'.

Unitech approaches NCLT against move to take over management

Unitech approaches NCLT against move to take over management

Fri, Dec 08, 2017

Earlier in the day, Unitech was dragged to the tribunal by the government seeking to take over the functioning of the firm alleging mismanagement and siphoning of funds by the management.

NCLT allows govt to appoint 10 directors on Unitech board

NCLT allows govt to appoint 10 directors on Unitech board

Fri, Dec 08, 2017

The National Company Law Tribunal today allowed the government to appoint 10 directors on the board of debt ridden realty firm Unitech Ltd.

Relief for Homebuyers; SC asks Jaypee to deposit Rs 1,000 crore by next week

Relief for Homebuyers; SC asks Jaypee to deposit Rs 1,000 crore by next week

Tue, Nov 07, 2017

32,000 homebuyers have been sitting with baited breath after when its developer turned defaulter against loan amount Rs 526.11 crore from IDBI Bank.

Agreed to new loan repayment plan, RCom says

Agreed to new loan repayment plan, RCom says

Tue, Oct 31, 2017

Debt-laden Indian telecoms company Reliance Communications Ltd has agreed a new debt repayment plan with lenders, including a pledge to raise up to 170 billion rupees ($2.6 billion) by selling assets such as mobile towers, it said on Monday.

Tata battle: NCLAT grants shareholding waiver to Mistry

Tata battle: NCLAT grants shareholding waiver to Mistry

Thu, Sep 21, 2017

Mistry has been locked in a legal battle with the Tatas since his unceremonious exit as chairman of Tata Sons -- the promoter company of the USD 105-billion car-to-software Tata group in October last year.

UK arbitration court to Bakshi: Sell CPRL stake to McDonald's

UK arbitration court to Bakshi: Sell CPRL stake to McDonald's

Thu, Sep 14, 2017

In its 2:1 majority award, the arbitration panel has asked Bakshi to transfer his 1,45,600 shares in the 50:50 joint venture Connaught Plaza Restaurant Ltd (CPRL) to McDonald's India at a fair valuation in accordance with their JV agreement, they said.

Does the new SC order brings respite for Jaypee Infratech's homebuyers?

Does the new SC order brings respite for Jaypee Infratech's homebuyers?

Mon, Sep 11, 2017

Interim resolution professional Anuj Jain has been asked to provide a solution within 45 days to protect the interest of homebuyers and creditors of Jaypee.

Tribunal asks McDonald's, Vikram Bakshi to wait for NCLAT verdict on franchise agreement

Tribunal asks McDonald's, Vikram Bakshi to wait for NCLAT verdict on franchise agreement

Wed, Sep 06, 2017

The NCLT told McDonald's and Vikram Bakshi to wait for the verdict from NCLAT as it is pending with the tribunal.

Jaypee Infratech Case: IDBI Bank files plea before SC seeking modification in NCLT's insolvency proceedings

Jaypee Infratech Case: IDBI Bank files plea before SC seeking modification in NCLT's insolvency proceedings

Tue, Sep 05, 2017

On August 09, the Allahabad bench of the National Company Law Tribunal (NCLT) admitted plea of IDBI Bank to begin insolvency proceedings against Jaypee Infratech for defaulting on a loan of Rs 526.11 crore.

Axis Bank has exposure on 12 accounts in RBI's second list of defaulters

Axis Bank has exposure on 12 accounts in RBI's second list of defaulters

Fri, Sep 01, 2017

Axis Bank stated that RBI has directed the bank to finalize and implement viable resolution plan for the identified second list of defaulters as on June 2017.

NPA crisis: RBI prepares second list of defaulters for insolvency proceedings

NPA crisis: RBI prepares second list of defaulters for insolvency proceedings

Wed, Aug 30, 2017

RBI is initiating insolvency proceedings for defaulters who account about 60% banks stressed assets. After identifying 12 accounts, RBI has guided banks over second list of defaulters for insolvency.

NPA resolution not to liquidate cos, but to help save them: FM Jaitley

NPA resolution not to liquidate cos, but to help save them: FM Jaitley

Sat, Aug 19, 2017

Gross NPAs have crossed 9.6 per cent as of March 2017, while the stressed loans ratio is over 12 per cent.

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